Iwata: No Plans To Cut Wii, DS Pricing This Year

Nintendo president Satoru Iwata has revealed that the video game company has no plans to reduce its pricing on its Nintendo DS and Nintendo Wii consoles this year, citing consumer demand for both systems as its reasoning for the decision. This announcement comes after the release of Nintendo’s full year financial report yesterday, in which the company reported seeing profits rise by 48% to $2.5 billion. Nintendo predicts profits up to $3.1 billion for the coming fiscal year. According to Reuters, Satoru Iwata told an analyst meeting, "Our earnings projection for the year is not based on hardware price cuts, and I don't think we are going to need them.” To date, Nintendo, Japan's third-largest company in market value, has sold 24 million Wii consoles ($249 each) and 71 million DS handhelds ($129 each). In its 2007 financial year, Nintendo sold 18.61 million Wii and 30.31 million DS systems. The Wii’s price has remained unchanged since the console's launch November 2006.